CSL Limited (CSL) Says Shareholders Can Expect A $US1.68b FY18 Profit

CSL Limited is a $79 billion company which creates vaccines and other products to prevent and treat life-threatening illnesses. Founded in 1916 by the Australian government, it was first known as Commonwealth Serum Laboratories.

In a trading update provided to the ASX this morning the Melbourne-based company increased its net profit guidance for its 2018 financial year to between $US1.68 billion and $US1.71 billion, assuming a constant currency. That compares to CSL’s previous guidance of $US1.55 billion to $US1.6 billion.

“I am pleased to report an improved Company outlook for the financial year, underpinned by a confluence of positive outcomes as we work to deliver on our strategy,” CSL Paul Perreault said.

“Of particular note has been a positive product and geographic sales mix shift, particularly with better than expected sales of Idelvion® and Haegarda®.”

CSL’s Seqirus business, which was formed in 2015 by combining bioCSL and the flu vaccines business of Novartis, is bolstering the group’s performance, Perreault said. Seqirus is the second-largest flu vaccines company in the world.

“…Seqirus is also performing well, following a severe northern hemisphere influenza season,” Perreault said. Adding, “The phasing of investments in some of our clinical trials has also yielded a positive financial variance.”

According to The Wall Street Journal, analysts were forecasting CSL’s earnings per share to rise to $US4.78, up 22% on 2017’s result. In 2017, CSL reported a net profit of $US1.43 billion in constant currency.

NEW: Rask Invest ETF Strategy!

"I love reading disclaimers!" - Said no one ever

Welcome to Rask Media. Do yourself a favour and read this disclaimer: General Advice Warning & Performance WarningThis website contains general financial advice and information only. That means the advice and information does not take into account your objectives, financial situation or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. In addition, you should obtain and read the product disclosure statement (PDS) of the financial product before making a decision to acquire the financial product.Unfortunately, we cannot guarantee the accuracy of the information on this website, including financial, taxation and legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant or financial (tax) adviser.By continuing to use this website operated by The Rask Group Pty Ltd you agree to our Terms of Service, Privacy Policy and Financial Services Guide. The Rask Group Pty Ltd is a Corporate Authorised Representative (No. 1264179) of Strawman Pty Ltd (AFSL: 501 223).Please read our Code of Ethics or if you need help understanding these policies please use the “Contact Us” page to get in contact with us today.